As a reminder, there are new increases to the maximum employee contributions to your retirement plans for 2019 for the tax-deferral 403(b) and 457(b) plans.
Tax-Deferral 403(b) plan – The maximum employee contribution to your retirement plan is increased to $19,000. If you are age 50 or older by the end of 2019, you can contribute an additional $6,000, for a total possible contribution of $25,000.
457(b) plan – Employees earning at least $210,000 in calendar year 2018 or expected to earn at least $210,000 in calendar year 2019 are eligible to participate in the 457(b) plan. The maximum elective contribution for 2019 is $19,000. There are no special Age 50 catch up provisions under this plan.
You may visit the retirement page for more information and to learn about plan types, eligibility, how to enroll and how & when to make changes to your retirement account.
For questions, please contact the Office of Human Resources by email at email@example.com or by phone at 504-865-4748 (HR4U).